Sales of single-family homes in Maine remains healthy and “in-demand”, although the number of units-for-sale remains low according to the latest real estate statisical report.
The Maine Listings study reveals 1,482 homes changed hands last month, up 10.93% compared to July of 2023.
The median statewide sales price (MSP) increased 5.07% over the past 12 months to $399,250. The MSP indicates that half of the homes were sold for more and half sold for less.
With 4,705 homes for sale, availability in July was the highest in 45-months and since October of 2020. That number represents 3.2 months of supply which is still someway below the 6-months which defines a ‘balanced market’.
The National Association of Realtors (NAR) has also reported a national sales dip of 1.4% in sales, while the national MSP rose 4.2% to $428,500 when comparing July 2024 to July 2023.
Regionally, sales in the Northeast increased 2.1%, and the regional MSP increased 8.3% to $505,100 over that same time period.
